Can my beneficiary be a foreigner, or living in a foreign country?
Your beneficiary doesn’t have to be a South African citizen. If your beneficiary is a foreigner but has a bank account in South Africa that we can transfer the payout to, there’s no issue.
If your beneficiary lives overseas, it can get tricky.
In some cases we would be able to transfer the payout overseas, but it depends who they bank with, and in which country.
In other cases, we might require them to open an account in South Africa to receive the money. They would probably need to apply in person and would need several forms of identification, like proof of address, Taxpayer Identification Number (TIN), birth certificate, unexpired passport and other FICA requirements, depending on the bank and bank account type.
If you are the beneficiary of a Sanlam Indie policy living overseas and you need to submit a claim, please get in touch to discuss it.